We didn't and still don't have "tons of VC cash" to burn - only our own savings accounts at that time, so no 5-star hotels or high class restaurants for us.
Also, I would not say we had a holiday mood at all during our time there. We started working the same day we arrived, but being in Hawaii had so many unexpected positive effects on productivity and product vision, we really wanted to share.
And, I could never win a surf contest.